UBS in Regulatory Settlement Over Retention of Electronic Information

July 13, 2005

Cleary Gottlieb represented UBS in its recent settlement with the SEC, NYSE and NASD resolving the difficulties UBS and other large firms face in the retention of electronic information, particularly email. The settlement, reported in the Wall Street Journal, is an outgrowth of the research analyst investigations begun several years ago, the substance of which was resolved in 2003 as part of the global settlement among ten banks, including UBS.